HCL to acquire Butler America Aerospace for $85m

Indian IT service provider HCL Technologies has signed an agreement to acquire Butler America Aerospace for a total consideration of $85m in cash.

The proposed deal does not include the staffing business of Butler America.

Expected to be completed by 31 December, the transaction is subject to regulatory approvals, including the Committee on Foreign Investment in the US (CFIUS) approval and other customary closing conditions.

With the deal, HCL intends to boost its capabilities in aerospace and defence sector, as well as have access to clients with large research and development (R&D) spends.

"With the deal, HCL intends to boost its capabilities in aerospace and defence sector."